This article is based on official press releases and financial filings from Grupo Aeroportuario del Sureste (ASUR).

ASUR Enters U.S. Market with $295 Million Acquisition of URW Airports

Grupo Aeroportuario del Sureste (ASUR), the international airport group known for operating Cancún Airport and hubs across Colombia and Puerto Rico, has officially entered the United States market. According to a company announcement released on December 11, 2025, ASUR has completed the acquisition of URW Airports, LLC, marking a significant strategic pivot for the Mexico-based operator.

The transaction, valued at an enterprise value of $295 million USD, was executed through the company’s subsidiary, ASUR US Commercial Airports, LLC. This move transforms ASUR from a regional infrastructure operator into a diversified player with a direct commercial footprint in some of the busiest aviation hubs in the United States.

In addition to this major expansion, ASUR released its passenger traffic report for November 2025 earlier this week, showing steady but mixed growth across its existing portfolio. We examine the details of the acquisition and the current operational climate below.

Strategic Expansion: From Cancún to JFK

The acquisition of URW Airports, formerly owned by Unibail-Rodamco-Westfield, represents a shift in business model for ASUR in the U.S. market. Unlike its operations in Mexico or Colombia, where it manages entire airport infrastructures, this acquisition focuses specifically on the high-margin segment of commercial management, including retail, dining, and passenger services.

Portfolio Additions

Under the new operating name ASUR Airports, LLC, the company will now manage commercial programs at major U.S. terminals. According to the transaction details, the portfolio includes:

• New York (JFK): Operations at Terminal 8 and the “New Terminal One.”
• Los Angeles (LAX): Commercial management across Terminals 1, 2, 3, 6, the Tom Bradley International Terminal, and Tom Bradley West.
• Chicago (ORD): Operations at Terminal 5.

ASUR stated that this acquisition is designed to diversify revenue streams and leverage the group’s extensive experience in commercial development. By entering the mature U.S. travel market, ASUR gains exposure to USD-denominated revenue, potentially offsetting currency volatility in its Latin American markets.

Financial Context

Based on financial data from ASUR’s Q3 2025 report released in late October, the company was well-positioned to execute this all-cash transaction. The company reported cash reserves of approximately 16.2 billion MXN, allowing it to fund the $295 million purchase without significantly leveraging its balance sheet. While Q3 EBITDA showed a slight decline of 1.3% due to cost pressures, revenue had increased by 17.1% year-over-year, driven largely by construction services.

Operational Update: November 2025 Traffic

While the U.S. acquisition dominates the headlines, ASUR’s core business operations continue to show resilience. On December 8, 2025, the group released its traffic report for November 2025, revealing a consolidated year-over-year increase of 1.5% in passenger traffic, totaling 5.9 million passengers.

Regional Performance Breakdown

The traffic report highlights a divergence in performance across ASUR’s three main geographic regions:

• Colombia: The strongest performer in the portfolio, posting a 5.9% increase. This growth was primarily driven by an 8.7% surge in international traffic.
• Mexico: The group’s flagship market showed stability with a 1.0% increase. International traffic rose by 2.1%, which helped offset a flat domestic market.
• Puerto Rico (San Juan): This region experienced a decline of 2.9%. The drop was attributed to a 4.0% decrease in domestic traffic, although international traffic provided a bright spot with 5.1% growth.

AirPro News Analysis

The completion of the URW Airports acquisition signals a maturation of ASUR’s corporate strategy. By securing a foothold in JFK, LAX, and ORD, ASUR is effectively hedging against the regional risks inherent in Latin American infrastructure operation. The “blue ocean” opportunity here is not in building runways, but in optimizing the retail spend of U.S. travelers.

Furthermore, the November traffic data suggests that while the Mexican market is stabilizing, Colombia has emerged as the current growth engine for the group. The dip in Puerto Rico remains a metric to watch as the company approaches its Q4 earnings report, but the injection of U.S. commercial revenue from the new acquisition may soon alter the complexion of ASUR’s balance sheet significantly.

Frequently Asked Questions

What did ASUR acquire?
ASUR acquired URW Airports, LLC, a commercial management firm operating in major U.S. airports, for an enterprise value of $295 million.

Will ASUR operate the runways at JFK or LAX?
No. This acquisition focuses on commercial management (retail, dining, and services) within specific terminals, not the operation of the airfield or infrastructure.

How is ASUR’s traffic performing?
As of November 2025, consolidated traffic is up 1.5% year-over-year, with Colombia leading growth (+5.9%) and Puerto Rico seeing a slight decline (-2.9%).

Sources: ASUR Press Release (Dec 11, 2025), ASUR Traffic Report (Dec 8, 2025), SEC Filings (Form 6-K)